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How to make a 7-digits domain sale !

Labeled as debate in Domain Selling and Domain Sales started by Cyril.Best, Mar 11, 2019.

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  1. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    DPs,

    I create this thread because I start to understand one big paradox of this industry.

    Everyone has its own chapel and certitudes on everything whatever is domain name appraisal, dotcom vs ngtld, blablabla ... - why not ?

    But the reality is that only few of you as already sold something for 7-digits in his/her life to a buyer - whatever it's a domain name or anything else.

    The first time, I had this chance, I was 20 years old (a long time ago;), I was very lucky because it was not just a domain - it was a full website, a marketplace, but I learned something for the rest of my business life :

    What makes the price of a domain name is not the domain itself (whatever is the name or the extension) - it's the buyer - it's the business opportunity or the threat for the buyer !

    All the rest : sales tactics, story, emotions .... are pure cosmetics and/or bullsh*t to go to the deal.

    So, to answer the initial question : How to make a 7-digits domain sale ?

    The right answer is : Don't chase after the perfect domain, chase after the perfect buyer !

    and then bring the perfect domain to your buyer.

    You will see - price will then be secondary at the end of the game.

    Hope it helps.

    All the .Best,

    CF
     
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  2. Joe Nichols

    Joe Nichols Making common sense a common practice VIP

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    Congratulations on your success, Cyril.

    I think the real value would be in telling us how to find seven-figure buyers. Can you share your methods?
     
  3. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    Hi Joe,

    Here is for instance what we did to sell hotels.best/hotel.best to get a proposal for $1M :

    We decide to invest time and hard work on the travel/hospitality business (it was absolutly not sure at the beginning that it was for hotels.best/hotel.best, it could be travel.best destination.best, restaurant.best, ...)

    1. So, we analyse the full hospitality industry best players
    2. For each player, we source their revenues, number of customers, # rooms, type, trends, sales strategy, recent failure, recent success, new acquisition, ongoing acquisition, ...
    3. Then we source their digital strategy and spend on google ads, youtube, FB and others social network.
    4. We compare their digital spends with their competitors and market stats.

    At this point what was obvious is that, we identify quickly for one of them a big business opportunity on the luxury side (change of strategy).

    Then, we found and collect his ARPU and estimate his CPA based on spend and number of customers.

    After this, it's the tricky part - you have to choose the right domain, at the right price and merge it with the business potential of your selected domain based on external datas.

    It's our magic sauce to make it a proven ROI in one year according to data at scale.

    This is our tactic : Proof the ROI in one year !

    Otherwise, we could try to sell it for $10M like for hotels.com but for this customer we knew it was not possible.

    And then the sales show can start - tactics & negotiation, legal things, and a little of cosmetic to go to the deal.

    All the rest are just emotions and bullsh*ts - no interest for myself at this stage.

    Now back to 1.

    And here is again what we will do for the real estate industry, the insurance industry, ...

    ...

    ---

    I give you also the point/trick that when you connect a buyer in the hotel industry with hotels.best : it helps - a lot ;)

    No matter what you will say, or sell, they listen to you at first.

    That's also the beauty and the power of the "Best" string compare to any other tld on the market and this is why it's also an amazing opportunity for domainers coz that's our tagline : everybody wants to be the best !

    Hope it helps,

    All the .Best

    CF
     
  4. Puneet Malhotra

    Puneet Malhotra Established Member

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    Please correct me, if I am wrong. I just see 1 sale for .best on namebio.com

    Am I missing something ?
     
  5. Joe Nichols

    Joe Nichols Making common sense a common practice VIP

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    Interesting info. Thanks Cyril.

    To my inexperienced eye, it looks like there is a lot of hard work and (more importantly) money put into doing the research and generating the data that tells the right story.

    Additionally, the ability to analyze that information, package it properly, and pitch it in the right way to the right person in the right company are critical skill sets that needs to be developed over time.

    My guess is that these are the biggest road blocks for domainers; particularly for us part-time investors who are only able to invest a few hours per week into investing and learning the industry.
     
  6. NameDeck

    NameDeck Established Member

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    Cool story. But as far as I'm aware you haven't sold the domains so your method seems to be a tad time consuming for zero profit.
     
  7. Joe Nichols

    Joe Nichols Making common sense a common practice VIP

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    Posting about a 7-figure sale before it happens seems like a bit of a jinx to me too! :)

    Cyril - hopefully you'll come back to give all the details if/when the deal goes through.
     
  8. DrJacoby

    DrJacoby Established Member

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    Hotels.best is worth reg fee. Maybe.

    A million dollars?! LOL!!!
     
  9. alcy

    alcy Top Member VIP

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    I look forward to seeing your 1 million sale reported on namebio.com

    it's not often we see regfee domains sell for one million.

    ;)
     
    Last edited: Mar 11, 2019
  10. Internet.Domains

    Internet.Domains Top Member VIP

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    The first part of this tells me you sold the domains for $1M. The second part tells me you got a proposal (offer) for $1M.

    Which is it?
     
  11. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    Like I Said - we received a formal engagement letter from the buyer.

    And it is for the couple domain hotels.best+hotel.best

    hotels.com was sold for $11M so we still think that there is a huge gap between $1M and $11M.
     
  12. nick3

    nick3 Established Member

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    There is also a huge gap between .best and .com..

    I would take the $1M without a doubt.

    Good luck anyway!
     
  13. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    Yep; we don't report any of our big premium sales (i.e bank.best, ...) and will not.
     
  14. Elad n

    Elad n Top Member VIP

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    So this thread is basically a hidden (well, not so hidden )for .best domains :)
     
  15. alcy

    alcy Top Member VIP

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    we never believe anyone on namepros who says they made 1 million dollar sales with zero proof... and will not.
     
  16. Internet.Domains

    Internet.Domains Top Member VIP

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    Personally (IMO), I feel marketing tactics for the NewG's by starting threads with offers, with no substantiated facts, is not a good look.

    I am a proponent of the NewG's, and even feel .best has a place, but I believe that this type of hype hurts the NewG's as a whole.

    Best of luck to you.
     
  17. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    I totally Agree Joe.

    Of course, this is not possible for everybody because of time as it can take 6 months to close a deal but if you are successful at the end it's the jackpot.

    We only work on big sales like this on our own and this is why also we set a very limited reserved list of just hundred premium domains with huge potential.

    Of course, it's a lot of work and this is why and what i explain in details to give you the dark side of a such deal.

    Hope it helps

    All the .Best

    CF
     
  18. NYJimbo

    NYJimbo Domain Re-Animator

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    I find you irritating. .BEST is a crap extension with maybe a few good sales. Good luck with future endeavors.
    Ignored.
     
  19. alcy

    alcy Top Member VIP

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    yeah... as far as I go, the only thing this guy has accomplished here today with his posts is made me decide to never buy .best.

    ignored indeed.

    cheers.
     
  20. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    Let me ask my legal if we can do that and will show a copy of the engagement letter (without buyer name) of course ;)
     
  21. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    Your choice. I respect.

    What this guy has accomplished : put 3 companies in stock exchanges, managing 50k domains/websites before the .best acquisition, acquired the .best with our own money without any financials, sold for $M of premium .Best domain names already, go from 2k to 10k .Best domain names in just 6 months, protecting brands through brands.best for major corp companies, launching THE.Best social network = biggest innovation at scale in the domain name industry ... so nothing ;)
     
    Last edited: Mar 11, 2019
  22. alcy

    alcy Top Member VIP

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    well... its your extension... you do what you want.. I am just saying we get on namepros X people per year saying they sold 1 milion dollar name without any proof or sales sites reports like namebio.. and it turns out to be a 100% failure ratio and bogus sales all the time. so I'm sure you understand where people here are coming from when they doubt what you say.

    if you make such sales, then its your best publicity to make sure to post them on all sale sites.. and here... with proper proofs etc.

    p.s. I hope we are on same page and when you say engagement letter it means domain is sold, transfered to buyer and you have his money.
     
  23. offthehandle

    offthehandle . Gold Account VIP

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    Buy or broker a one word .Com. Period. The end.
     
  24. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    I respect. You have all rights to not love the .Best.

    All the .best for your business.
     
  25. golan

    golan GolanMedia.com Gold Account VIP

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    We don't welcome and don't respect at this forum people trying to edify others without trace of proof of being successful in what they are preaching about.
     

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